Way to deal with price rises, Managerial Economics

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a) A country should always protect its domestic industries. Discuss.

b) To what extent can a country actually rely on the principle of Comparative Advantage before engaging in international trade?

c) "The trade-off between unemployment and inflation arise due to adaptive expectations." Comment on this statement.

d) The best way to deal with price rises is to increase income tax and reduce the purchasing power of individuals. Discuss.

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